Update @ 17:00, 1 April 2025
The Bank shall be commencing legal action against Mr Koh after he failed to retract his baseless allegations and apologise for his defamatory remarks despite our request for him to do so on 26 March 2025. We shall also be taking appropriate legal action against The Online Citizen and its editor, Mr Xu Yuanchen. This is necessary as the allegations are false and defamatory.
A Court Judgement was already made in 2023, dismissing Mr Koh's application to appoint judicial managers over Yang Kee Logistics (Singapore) Pte Ltd ("Yang Kee"). The Judge had stated that "the Receivers have in fact been objective and professional, as well as diligent in their efforts" in evaluating the LOGOs deal. The findings from the Court Judgement were also contrary to Mr Koh’s latest assertions, as Yang Kee had first defaulted on its interest payment obligations to bondholders in 2018, and further defaulted upon maturity of the bonds in 2020.